FMC forecast error variance decomposition (FEVD) VEC(1) and VEC(4) unrestricted constant (percentage points)
| Ordering | Shock on | 6 months | 12 months | 24 months | |
|---|---|---|---|---|---|
| VEC(1) | FMC-HTP | FMC | 90.4 | 84.9 | 75.6 |
| HTP | 1.9 | 2.0 | 2.0 | ||
| HTP-FMC | FMC | 93.6 | 87.7 | 77.9 | |
| HTP | 0.4 | 0.2 | 0.1 | ||
| VEC(4) | FMC-HTP | FMC | 91.1 | 89.0 | 84.7 |
| HTP | 8.7 | 9.2 | 9.5 | ||
| HTP-FMC | FMC | 91.1 | 89.0 | 84.7 | |
| HTP | 8.7 | 9.2 | 9.5 |
| Ordering | Shock on | 6 months | 12 months | 24 months | |
|---|---|---|---|---|---|
| VEC(1) | FMC-HTP | FMC | 90.4 | 84.9 | 75.6 |
| HTP | 1.9 | 2.0 | 2.0 | ||
| HTP-FMC | FMC | 93.6 | 87.7 | 77.9 | |
| HTP | 0.4 | 0.2 | 0.1 | ||
| VEC(4) | FMC-HTP | FMC | 91.1 | 89.0 | 84.7 |
| HTP | 8.7 | 9.2 | 9.5 | ||
| HTP-FMC | FMC | 91.1 | 89.0 | 84.7 | |
| HTP | 8.7 | 9.2 | 9.5 |
Source(s): Authors’ work
Sharing content requires targeting cookies to be enabled. Please update your cookie preferences to use this feature.